Reserve Bank of India will come with big news on inflation after a long time, describing the rise in prices as a big challenge, Governor of the Reserve Bank of India (RBI) Shaktikanta Das expressed hope that the inflation rate will remain below 7 percent in October. Retail inflation rose to 7.4 percent in September from 7 percent in August. This increase was due to an increase in the prices of food and energy products. Das blamed the measures taken by the government and the RBI in the last six-seven months for the expectation of a reduction in the inflation rate for October.
He said during a program that there is no need to change the target of keeping inflation in the range of 2 to 6 percent because an inflation rate of more than 6 percent will affect economic development. The government has entrusted the Monetary Policy Committee (MPC) headed by the RBI Governor with the responsibility of keeping the inflation rate in the range of 2 to 6 percent.
Many steps are taken to reduce inflation
October inflation data will be released on Monday. He said that in the last six-seven months, both the RBI and the government have taken several steps to reduce inflation. Das said that the RBI on its part has raised interest rates and the government has taken several measures related to the supply side.